§6039J — Title 26 Internal Revenue Code | U.S. Code

§6039J Information Reporting with Respect to Commodity Credit Corporation Transactions

Title 26 › Subtitle Subtitle F— Procedure and Administration › Chapter 61— INFORMATION AND RETURNS › Subchapter A— Returns and Records › Part III— INFORMATION RETURNS › Subpart A— Information Concerning Persons Subject to Special Provisions › § 6039J

Last updated Apr 6, 2026|Official source

Summary

The Commodity Credit Corporation, through the Secretary of Agriculture, must report to the IRS any market gain a taxpayer realizes during the year when repaying a Commodity Credit Corporation loan, no matter how the loan was repaid. Each person named in the report must also receive a written statement showing the amount of market gain reported.

Title 26, §6039J

Internal Revenue Code — Source: USLM XML via OLRC

(a)The Commodity Credit Corporation, through the Secretary of Agriculture, shall make a return, according to the forms and regulations prescribed by the Secretary of the Treasury, setting forth any market gain realized by a taxpayer during the taxable year in relation to the repayment of a loan issued by the Commodity Credit Corporation, without regard to the manner in which such loan was repaid.

(b)The Secretary of Agriculture shall furnish to each person whose name is required to be set forth in a return required under subsection (a) a written statement showing the amount of market gain reported in such return.

Notes & Related Subsidiaries

Editorial Notes

Codification Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.

Statutory Notes and Related Subsidiaries

Effective Date

Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective

May 22, 2008, the date of enactment of Pub. L. 110–234, except as otherwise provided, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of Title 7, Agriculture. Pub. L. 110–234, title XV, § 15353(c),

May 22, 2008, 122 Stat. 1527, and Pub. L. 110–246, § 4(a), title XV, § 15353(c),

June 18, 2008, 122 Stat. 1664, 2289, provided that: “The

Amendments

made by this section [enacting this section] shall apply to loans repaid on or after January 1, 2007.” [Pub. L. 110–234 and Pub. L. 110–246 enacted identical provisions. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246, set out as a note under section 8701 of Title 7, Agriculture.]